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Iran, Russia link bank card networks in latest move to overcome sanctions

Iranians can currently withdraw money in Russia, and will in the future be able to use their cards to pay for in-store purchases.

TAS News Service

info@thearabianstories.com

Tuesday, November 12, 2024

TEHRAN: Iran bank cards can be used in Russia after the two countries linked their banking systems in the latest bid to counteract sanctions, news agencies from Tehran reported.

Iranian banks have been excluded since 2018 from the SWIFT international financial messaging service, which governs the vast majority of transactions worldwide.

“Iranians can currently withdraw money in Russia, and will in the future be able to use their cards to pay for in-store purchases,” state television said.


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